The answer is option d. Why do you want to work for this company?, this would not create potential liability for the employer if asked during an interview.
A company's simple definition is what?A corporate structure that has a separate legal identity from its owners is a company. Due to additional reporting requirements and more serious legal obligations, it is a complex corporate structure with greater setup and administrative costs.
What does a company's introduction entail?An organization is a voluntarily created group of people who conduct business for profit or non-profit goals. These people invest in the capital by purchasing the shares into which it is divided.
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Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 Sydney accepts delivery of $40,000 of merchandise it purchases for resale from Troy: invoice dated May 11: terms 3/10, n/90; FOB shipping point. The goods cost Troy $30,000. Sydney pays $345 cash to Express Shipping for delivery charges on the merchandise. 12 sydney returns $1,400 of the $40, 000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $1,050. 20 Sydney pays Troy for the amount owed. Troy receives the cashi (Both Sydney and Troy use a perpetual inventory system and the gross method) es 1. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. 2. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries that Sydney Retailing (buyer) records for these three transactions.
The timing of a company's revenue recognition will depend on the terms of its sales. When Free-On-Board Shipping is used, the seller only gets paid when the goods they sell leave the warehouse and are delivered to the customer.
Who pays for free shipping on board?The buyer must bear the freight transportation costs, as stated in the buyer FOB freight collect and allowed. However, the cost is deducted from the seller's invoice by the buyer. Because the seller still owns the goods while they are in transit, they are their responsibility.
What is included in the free onboard package?When goods are sold, the term "free on board," which is frequently abbreviated as "F.O.B.," means that the purchased property will be shipped to a specified location on a vessel at no cost to the buyer for packing, potage, cartage, etc.
Dr Cr Inventory = 40,000 plus 375 Accounts payable 40,000 Cash 375 12 May:
Dr. Cr.'s accounts payable are 1,400, and inventory is 1,400.
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The prepaid insurance balance reflects a 12-month insurance policy which started on Sept. 1, 2018, and no adjustments were made from Sept. 1 – Dec. 31, 2018. Write the adjusting journal entry for Dec. 31, 2018. In Blank [1] enter the account to be debited. In Blank [2] enter the amount to be debited. In Blank [3] enter the account to be credited. In Blank [4] enter the amount to be credited.
Dr. [1]_______________ [2]$_____________
Cr. [3]________________ [4]$____________
The journal entry will be Debit- Insurance exp. and credit Prepaid insurance.
What is a journal entry?A journal entry is a record of a commercial transaction made in an organization's accounting system. The double-entry accounting method, which has been around for centuries, is built on the foundation of journal entries.
Ledgers are what?With debit and credit account entries verified by a trial balance, a general ledger serves as the mechanism for maintaining a company's financial data. A permanent summary of all sums recorded in supporting journals, which identify specific transactions by date, is kept in the ledger. Each transaction starts in a journal and moves through one or more ledgers. The summary totals in the ledgers are used to create the financial statements for a corporation.
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Now suppose that a contract that specifies an exact amount of work e cannot be written, for example because the landowner is not able to continually observe the farmer to see if she is working. The landowner, instead offers the farmer a share contract, according to which the farmer gets to keep a part of the production for herself. The income of the farmer is now equal to the part of the produce that the farmer will be able to keep. So the farmer's income is equal to y=sx, where s is the share that she gets to keep, and so 0
The farmer's utility function can now be written as [tex]\mathrm{U = sx - 1/2 e^2}[/tex].
What is utility function?The advantages attained or satisfaction felt as a result of using products or services are referred to as utility. The utility function quantifies the preferences that consumers have when consuming goods and services. For instance, if a customer prefers apples to oranges no matter how much is consumed, the utility function could be written as U(apples) > U. (oranges).
The utility function prioritises consumer preferences when ranking their consumption of goods and services. The difference in utility when the rate of consumption changes is measured by marginal utility (i.e., how much more satisfaction is gained by consuming another unit of a good or service).
We had the formula
[tex]\mathrm{U = Y - 1/2 \ e^2}[/tex]
But here given that y = sx
So substitute the the value and we have
[tex]\mathrm{U = sx - 1/2 e^2}[/tex]
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true/false. Let an investor be considering two risky portfolios: A and B to construct a complete portfolio C with a risk-free asset. The reward-to-variability ratio of portfolio A is 0.12 and reward to variability ratio of portfolio B is 0.14.
A. Higher reward-to-variability ratio of portfolio B implies that its capital allocation line has a lower slope than that for the capital allocation line for A.
Let's say an investor is thinking about combining two hazardous portfolios, A and B, with a risk-free asset to create portfolio C. Portfolio A has a reward-to-variability ratio of 0.12, whereas portfolio B has a reward-to-variability ratio of 0.14. This statement is false.
The reward-to-variability ratio is a measure of the expected return per unit of risk of a portfolio. In this scenario, portfolio B has a higher reward-to-variability ratio than portfolio A, which means that it is expected to generate a higher return per unit of risk than portfolio A.
The capital allocation line (CAL) is a graphical representation of the risk-return tradeoff for a combination of risky assets and risk-free assets. The slope of the CAL represents the reward-to-variability ratio of the optimal risky portfolio. Therefore, a higher reward-to-variability ratio implies a steeper slope of the CAL, not a lower slope as stated in the statement.
In this case, since portfolio B has a higher reward-to-variability ratio than portfolio A, its CAL would have a steeper slope than that of portfolio A. This means that the optimal combination of portfolio B and the risk-free asset would have a higher expected return per unit of risk than the optimal combination of portfolio A and the risk-free asset.
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e) describe two economic impacts (excluding costs related to climate change resulting from co2 emissions or the cost of gasoline at the pump) that result from an increased number
The melting of ice sheets, the collapse of the Asian monsoon, and rising sea levels are the other tipping points.
The Tripping Point in a climatic system is a threshold that is exceeded and can result in changes in the state of the system. Examples of potential points include those of the physical climatic system, such as the global carbon cycle, and these include changes in land use and global oceanography as well as the integrity of biodiversity. The carbon cycles, rising temperature records, and geologically quick rates of climate change are all factors that contribute to the atmospheric tripping point. Due to an increase in CO2 emissions, which in turn is leading to an increase in greenhouse gases, this is reflecting on the planet's heat and temperature records.
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ou are required to prepare Cash Book Exercise The following transaction Jun 01 Cash med by The P&O LLC company during the month of June 2018 (debt balance) ved from him $25. Co by check $1,175, do Jun 05 Received from David & Co a check amounting to saod, decount allowed to him $10. * chased stationary for cash $170 Jun 15 cash, $1,200 Jun 15 Cash sales for brst half of the month, 12.450 $1.250 Jun 16: Deposted * Jun 18 Wendrawn from bank for personal expenses $100 Jun 19 issued a check amounting to $1,630 to James & Co and discount received from him $20. Jun 21 Drew from bank use, $420 Purchased Jun 24 Received a check mounting to $1.435 from Herry & Co and allowed him a discount of $15. Henry's check was deposited into bank immediately Jun 25 Paid a check to Jacob inc amounting to $385 and received a discount of $15 Jun 27: Bought furniture for cash for office use. $380 Jun 29 Paid office Jun 30 Cash by check $350 for the second half of the month $4.550. * * Jun 30: Paid salaries by check $760 * Jun 30: Withdrew from bank for office use $470. Record the above transactions in a cash book of P&G LLC and balance the cash book.Record the above transactions in a cash book of P&GLLC and balance the cash and bank columns of the cash book
The cash and Bank balances of P&GLLC are $1905 and $0 respectively.
What do we record in the cash book?All cash transactions are meticulously recorded in a cash book in accounting. Contrast this with a cash account, which is an account that may be found in a general ledger. While a cash book can function as both a diary and a ledger, a cash account is more like a ledger in structure.
Given
The following transaction Jun 01 Cash med by The P&O LLC company during the month of June 2018 (debt balance) ved from him $25. Co by check $1,175, do Jun 05 Received from David & Co a check amounting to said, discount allowed to him $10. * chased stationary for cash $170 Jun 15 cash, $1,200 Jun 15 Cash sales for the first half of the month, 12.450 $1.250 Jun 16: Deposited * Jun 18 Wendrawn from the bank for personal expenses $100 Jun 19 issued a check amounting to $1,630 to James & Co and discount received from him $20. Jun 21 Drew from bank use, $420 Purchased Jun 24 Received a check amounting to $1.435 from Herry & Co and allowed him a discount of $15. Henry's check was deposited into the bank immediately Jun 25 Paid a check to Jacob inc amounting to $385 and received a discount of $15 Jun 27: Bought furniture for cash for office use. $380 Jun 29 Paid office Jun 30 Cash by check $350 for the second half of the month $4.550. * * Jun 30: Paid salaries by check $760 * Jun 30: Withdrew from the bank for office use $470. Record the above transactions in a cash book of P&G LLC and balance the cash book.
Required to calculate the cash book of P&GLLC and balance the cash and bank columns of the cash book.
The Following calculation is shown in the file given attached below.
Thus, the cash and Bank balances of P&GLLC are $1905 and $0 respectively
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A loss from the sale of n investment would be ___ to (from) net income when computing cash flow from operations, using the indirect method.
A loss from the sale of n investment would be added to (from) net income when computing cash flow from operations, using the indirect method.
The indirect method refers to an approach in accounting that allows a company to derive its cash flow statement from its income statement and balance sheet. This approach requires the use of adjustments to reconcile the differences between the two statements. The indirect method involves making adjustments to the net income amount reported on the income statement to arrive at the cash flow from operations amount on the cash flow statement.
One significant advantage of using the indirect method is that it is more straightforward and less time-consuming to prepare compared to the direct method. It also offers more detailed information about a company's operating activities, including non-cash expenses like depreciation and amortization. The indirect method also allows for the identification of potential cash flow issues that may arise in the future.
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a combination of activities that represent everything a firm can do to influence demand for its good, service, or idea; often referred to as the four Ps of marketing.
The combination of activities that represent everything a firm can do to influence demand for its good, service, or idea is often referred to as the "four Ps of marketing."
The four Ps are product, price, promotion, and place.
Product refers to the features, design, quality, packaging, and branding of the product or service.Price refers to the amount the customer pays for the product or service.Promotion refers to the various ways in which the product or service is advertised and communicated to the customer, including advertising, sales promotion, public relations, and personal selling.Place refers to the channels through which the product or service is distributed and sold, including online, retail stores, wholesalers, or direct sales.By manipulating these variables, firms can create a marketing mix that is tailored to the needs and preferences of their target market and maximize the chances of success for their product or service.
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Complete question
a combination of activities that represent everything a firm can do to influence demand for its good, service, or idea; often referred to as _____ .
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in year 1, frill corp. issued 1,000 shares of $1 par value common stock for $10 per share. in year 3, frill repurchased and immediately retired 100 shares of the stock at $12 per share. which of the following entries would be included in the journal entry to retire the shares? (select all that apply.)
Based on this analysis, the following entries would be included in the journal entry to retire the shares: Debit: Common Stock $100;Debit: Additional Paid-in Capital $1,100;Credit: Cash $1,200
There are a few possible ways to approach this question, but one common method is to the effects of the stock issuance and repurchase on Frill Corp.'s accounts and then determine which accounts need to be adjusted in the journal entry to retire the shares. Here's one possible solution:Year 1 stock issuance:
Debit: Cash $10,000 (1,000 shares x $10 per share)
Credit: Common Stock $1,000 (1,000 shares x $1 par value)
Credit: Additional Paid-in Capital $9,000 (the excess of the issuance price over the par value)
Year 3 stock repurchase and retirement:
Debit: Common Stock $100 (100 shares x $1 par value)
Debit: Additional Paid-in Capital $1,100 (the excess of the repurchase price over the par value and the original issuance price)
Credit: Cash $1,200 (100 shares x $12 per share)
Based on this analysis, the following entries would be included in the journal entry to retire the shares:
Debit: Common Stock $100
Debit: Additional Paid-in Capital $1,100
Credit: Cash $1,200
Therefore, the correct options are:
Debit: Common Stock
Debit: Additional Paid-in Capital
Credit: Cash
Note that the total amount debited ($1,200) equals the total amount credited ($1,200), which ensures that the journal entry is balanced. Also, the retirement of the shares reduces the total number of outstanding shares from 1,000 to 900 (1,000 - 100), which may affect the calculation of earnings per share and other financial ratios.
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Contrast the role of fixed costs and variable costs in economic decisions about future production and pricing.
Fixed costs are sunk costs because they are in the past and cannot be altered. For this reason, fixed costs should play no role in economic decisions about future production or pricing. Variable costs typically show diminishing marginal returns, so that the marginal cost of producing higher levels of output rises.
Why is it important to know what are the fixed and variable costs in a production firm?Based on a detailed understanding of your company's fixed and variable costs, we can establish the price point that will generate a profit for the products or services that you offer. By using this data, you may calculate your break-even point, which is the amount in units or dollars at which total revenues and total costs are equal.
Variable costs often display declining marginal returns, which causes the marginal cost of producing rising amounts of output to rise with these costs. Variable costs vary depending on how much is generated. Examples of variable expenses include raw materials, commissions, and labour.
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Tell the two most important conditions required for osmosis by completing this statement: Osmosis will occur for a given cell if ______________ and if __________________.
c) Give general meanings of isotonic, hypotonic and hypertonic, not specific to cells.
d) Complete each statement below:
A 2 M solution of substance S is ______________ to a 1 M solution of S.
A 25% solution of substance S is ______________ to a 43% solution of S.
A 4 mg/ml solution of substance S is ______________ to a 4 mg/ml solution of
The differential in solute content on each side of the cell membrane and the membrane's need to be selectively permeable are the two most crucial requirements for osmosis.
The differential in solute content on each side of the cell membrane and the membrane's need to be selectively permeable are the two most crucial requirements for osmosis.
c) Isotonic refers to a situation in which a membrane's solute concentration is the same on both sides. Hypotonic indicates that water moves into a cell or membrane when the concentration of solutes is lower outside of the cell or membrane. d) Substance S is hypertonic to a solution at a concentration of 2 M. To a 43% solution of substance S, a 25% solution of S is hypotonic. An S solution at 4 mg/ml is isotonic with a S solution at 4 mg/ml.
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The headline in an independent paper that services a large metropolitan area stated that 33% (p=0.33) of houses cost more than $300,000. Sayed read the headline and decided to compute a confidence interval for the proportion of all houses in that area that cost more than $300,000. His 99% confidence interval was based on a simple random sample of 100 houses from the area, and the limits of the interval were from 0.27 to 0.29. Select the statement that represents the correct interpretation of the confidence interval. 99% of houses sampled from the metro area will cost between $270,000 and $290,000. Sayed is 99% confident that the true proportion of houses that cost more than $300,000 is between 27% to 29%. Between 27% and 29% of houses sampled in the metro area will cost more than $300,000. There is a 99% chance that the proportion of houses that cost more than $300,000 is between 27 % to 29%. Sayed is certain that the true proportion of houses that cost more than $300,000 is between 27% to 29%.
The correct interpretation of the confidence interval is: Sayed is 99% confident that the true proportion of houses that cost more than $300,000 is between 27% to 29%.
A confidence interval is a range of values which are used to estimate an unknown population parameter based on a sample of data.
In this case, Sayed used a simple random sample of 100 houses from the metropolitan area to estimate the proportin of all houses in the area that cost more than $300,000.
The 99% confidence interval that Sayed calculated was from 0.27 to 0.29, it means that if Sayed repeated his sampling many times and calculated a 99% confidence interval each time, then about 99% of those intervals would contain the true proportion of houses in the area that cost more than $300,000.
Therefore, it can say that Sayed is 99% confident that the true proportion of houses that cost more than $300,000 is between 27% to 29%. Note that this interpretation does not mean that 99% of houses sampled from the metro area cost between $270,000 and $290,000 or that there is a 99% chance that the proportion of houses that cost more than $300,000 is between 27% to 29%.
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a broker has found a buyer for a seller's home. the buyer has indicated in writing his willingness to buy the property for $1,000 less than the asking price and has deposited $5,000 in earnest money with the broker. the seller is out of town for the weekend, and the broker has been unable to inform him of the signed document. at this point, the buyer has signed
Option (c), The broker was unable to notify the seller of the signed agreements because he is out of town for the weekend. The document is currently an Offer.
What are the most important three legal documents for any real estate transaction, and why?The three original documents that are deemed to be the most significant are the purchase agreement, a deed, and any mortgage or trust deed. If the originals are lost or destroyed, you might be able to obtain certified copies of these documents from the lender or closing company, but unless absolutely essential, you should just not reliance on someone else's record-keeping practices.
Which legal documents are given to the buyer?A set of conditions that are outlined in the Sale and Purchase Agreement have been accepted by both the buyer and the seller. One of the clearest examples of this is the discussion on the price of the apartment at the time it was purchased. The agreement would include the apartment's agreed-upon valuation, which the buyer and seller had agreed upon.
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The complete question is:
A real estate professional has found a buyer for a seller's home. The buyer has indicated in writing a willingness to buy the property for $1,000 less than the asking price and has deposited $5,000 in earnest money with the real estate professional. The seller is out of town for the weekend, and the real estate professional has been unable to inform the seller of the signed document. At this point, the buyer has
A) a voidable contract
B) an executory agreement
C) an offer
D) an implied contract
Our class is designed around the ________________ approach to marketing research which is seen as a complement to the ongoing/ information systems approach to marketing research.
Simply said, marketing research is a type of activity that uses information to link the marketer with consumers, customers, and the general public.
The six processes that make up the marketing research process are problem identification, problem formulation, formulation of the research design, fieldwork, preparation and analysis of the data, and report development and presentation. The data is utilized to identify and categories marketing possibilities and issues. It is also used to develop, improve, and assess marketing initiatives, as well as track marketing results. It contributes to a better comprehension of marketing as a process. The following steps are part of the marketing research process; Step 1: Define the issue. Step 2: Create a solution strategy for the issue. Step 3: Formulating the research design. Step 4: Data collection or fieldwork. Step 5: Gathering and Analyzing Data. Step 6: Writing and presenting the report.
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the following transactions occur for badger biking company during the month of june: provide services to customers on account for $35,000. purchase bike equipment by signing a note with the bank for $27,000. repay $20,000 of the note in (b) above. pay utilities of $3,500 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation.
Analyze each transaction and indicate the amount of increases and decreases in the accounting equation.
Assets = Liabilities + Equity
$27,000= $3,500+8,000+0
What is an accounting equation?The accounting equation is a fundamental principle in accounting that states that assets must always equal the sum of liabilities and equity. The equation is expressed as: Assets = Liabilities + Equity
The assets refers to the economic resources owned by a business or individual, such as cash, accounts receivable and liabilities are the financial obligations or debts owed by the business or individual, such as accounts payable, loans, and mortgages.
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A summary with estimates as to when, where, and how much money will come into and go out of a business
A summary of a business's estimates of when, where, and how much money will come into and go out of the business is known as a 'cash flow forecast'.
Cash flow forecast is a projection of the expected inflows and outflows of cash over a given period, usually a month, quarter, or year. The forecast typically includes all sources of cash inflow, such as sales revenue and investments, and all expected outflows, such as salaries, rent, and loan payments.
By analyzing the cash flow forecast, a business can identify potential cash shortages and take steps to address them before they become a problem. This helps businesses to better manage their finances, make informed decisions about investments, and plan for future growth.
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choose the formula below that is used to calculate the current ratio of a business. multiple choice question. current liabilities divided by long-term liabilities current assets divided by current liabilities current assets divided by plant assets current liabilities divided by current assets
The correct formula that is used to calculate the current ratio of business is option B "current assets divided by current liabilities"
Current ratio: explained the relationship between the company's liabilities and company assets,if a company has more assets than its liabilities, it means the company has a higher ratio. The current ratio can also mean a simple measure that estimates whether the business can pay debt with one year out of the current assets.
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Which of the following is the most relevant internal psychological process associated with the problem recognition stage of the consumer decision-making process?
motivation
A: Motivation is the most relevant internal psychological process associated with the problem recognition stage of the consumer decision-making process.
Problem recognition occurs when a consumer becomes aware of a discrepancy between their current state and their desired state. This awareness creates a need or want that motivates the consumer to take action to resolve the problem. Motivation is the driving force behind problem recognition, as it energizes the consumer to search for solutions and consider different options. Other internal psychological processes such as perception, learning, and attitudes may also play a role in this stage, but motivation is the most relevant as it triggers the need recognition process.
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Complete question
Which of the following is the most relevant internal psychological process associated with the problem recognition stage of the consumer decision-making process?
A: Motivation
B: Perception
C: Learning
D: Attitudes
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Which of the following involves fixed premium payments and a benefit payout at the time of death that will depend on investment returns over the life of the policy?
A. Term life.
B. Variable life.
C. Whole life.
D. Endowment life.
E. Universal life.
Fixed premium payments and a benefit payout at the time of death that will depend on investment returns over the life of the policy are Variable life. Because this insurance is a type of permanent life insurance that requires fixed premium payments. So, the correct option is (B).
The benefit payout amount depends on the performance of the investments chosen by the policyholder. The benefit payout is not fixed and can vary based on the investment returns over the life of the policy.
The investment options available in variable life policies are typically mutual funds that invest in stocks, bonds, or other securities. In contrast, whole life, endowment life, and universal life policies provide a fixed benefit payout, and term life insurance policies do not have any cash value or investment component. So, correct answer is (B) Variable life.
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Eleanor wants to repeat the first row of the worksheet on each printed page of a four-page worksheet. Which of the following options should she use in the Page Setup dialog box?
a. Print area
b. Row and column headings
c. Print titles
d. Gridlines
Eleanor wants to repeat the first row of the worksheet on each printed page of a four-page worksheet of the following options should she use in the Page Setup dialog box Row and column headings.
How can I get Excel to repeat the first row across all pages?Navigate to the [Page Layout] tab. Click [Print Titles] in the "Page Setup" group. Click the spreadsheet icon in the "Rows to repeat at top" section under the [Sheet] tab. The row you want to appear at the top of each page can be chosen by clicking on it. Click [OK] after pressing the [Enter] key.
In Excel, how do I duplicate rows?Click Page Setup under the Page Setup group on the Page Layout tab. Select the column or row that contains the titles you wish to repeat by clicking under Rows to repeat at the top or Columns to repeat at the left under Print Titles. Select OK.
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The company determines that the interest expense on a note payable for the period ending December 31 is $630. This amount is payable on January 1. Prepare the journal entries required on December 31 and January 1. If an amount box does not require an entry, leave it blank. Dec. 31 Jan. 1
Dec. 31: No entry is required on December 31, because the interest charge for the period ending December 31 has already been calculated and will be recorded when the payment is made on January 1.
Jan. 1: The following journal entry might be used to record the payment of interest on January 1: Expense for debit interest: $63 Cash Credit: $630 This item details the payment of the note payable's interest expenditure. The Interest Expense account is debited to indicate the period's expense, and the Cash account is credited to show the expense's payment. The company determines that the interest expense on a note payable for the period ending December 31 is $630. This amount is payable on January 1. Prepare the journal entries required on December 31 and January 1.
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select the group of items that can be determined using information. multiple choice question. the best-selling product by month compared to sports season and city team wins and losses the full list of products on shelves that are about to expire. the best-selling product, best customer, and worst-selling product
The answer is all of the above can be determined using information as business intelligence.
What is the greatest way to define business?A company or inventive entity engaging in commercial, industrial, or professional activity is referred to as a business. Businesses can be for-profit or nonprofit enterprises. Limited liability companies, sole proprietorships, corporations, and partnerships are all different sorts of businesses.
What is a business basic definition?A business is an entrepreneurial entity or organization that engages in professional activities. They might be industrial, commercial, or something else. Businesses that are for profit operate with the goal of making a profit, whereas those that are nonprofit operate with a charity purpose in mind.
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peron company uses a perpetual inventory system and the net method of recording invoices. the company purchased merchandise on november 4 at a $2,000 invoice price with terms of 2/10, n/30. complete the journal entry by selecting the account names from the drop-down menus and the amounts in the debit and credit columns.
The journal entry to record the purchase on November 4 would be: The Purchase Discounts account is a contra-expense account that is credited when the company takes advantage of a discount. By crediting this account, the company records the reduction in the cost of goods sold due to the discount.
The image of the journal is attached below
What is journal entry?Generally, the image below
Since Peron Company uses a perpetual inventory system, it records each purchase of merchandise into the Merchandise Inventory account, which is a current asset account that reflects the cost of goods available for sale.
Since the invoice terms are 2/10, n/30, the company can take a 2% discount if it pays within 10 days. The discount is calculated as 2% of the invoice price, or $40 ($2,000 x 2%). The net amount due is $1,960 ($2,000 - $40).
Since the company is using the net method of recording invoices, it records the net amount due in the Accounts Payable account, which is a current liability account that reflects the amount owed to the vendor.
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TRUE/FALSE. Step 3 of the revenue recognition model requires that the seller set the price of the sale at the amount the seller expects to receive from the customer.
True the third step of the revenue recognition model requires that the seller set the price of the sale at the amount the seller expects to receive from the customer which is known as transaction price.
What is revenue recognition model ?
The revenue recognition model is a set of accounting principles that outlines how and when revenue should be recognized or recorded in a company's financial statements.
It is important because revenue recognition affects a company's reported financial results, and incorrect revenue recognition can lead to misleading financial statements.
It is true that the third step in this process is determining the transaction price.
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identifying and profiling the first customer, estimating potential demand from that customer, and identifying subsequent customer segments and needs to grow the company are goals of market research for .
The correct answer to the question above is "market research for a new company."
These are the goals of market research for a new company:identifying and profiling the first customerestimating potential demand from that customeridentifying subsequent customer segments needs to grow the companyMarket research is the process of determining the viability of a new service or product through research. The researcher used to gather information and better understand a company's target market.Learn more about market research at: https://brainly.com/question/28590582
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How is a debit card different from a credit card
The main difference between a debit card and a credit card is that a debit card lets you spend your own money, while a credit card lets you spend someone else's money (the card issuer's) with the expectation that you will pay it back.
What is the Difference between Debit and Credit Cards?A debit card and a credit card are two different types of payment cards that serve different purposes.
A debit card is linked to your checking account and is used to withdraw money or make purchases directly from your account. When you use a debit card, the amount of the transaction is deducted from your account balance. Essentially, a debit card lets you spend money that you already have.
On the other hand, a credit card is a loan in the form of a card. When you use a credit card, you are borrowing money from the card issuer up to a certain limit. You are then expected to repay the borrowed amount, usually with interest and fees. A credit card allows you to make purchases even if you don't have the money available in your account, giving you the flexibility to spend now and pay later.
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Table 8.2.2 lage of Popcom Marginal Bottles of Marginal Utility Pop Utility 1 120 100 2 70 80 3 60 70 4 10 120 2 3 4 Refer to Table 8.2.2. Henry is maximizing his utility by consuming 3 bags of popcorn and 3 bottles of pop. What is the ratio of the price of popcorn to the price of pop? 3/4 6/5 1/2 1 4/3
The ratio of the price of popcorn to the price of pop when Henry is maximizing his utility by consuming 3 bags of popcorn and 3 bottles of pop is 6/5. The correct option is B.
According to the data, Henry is maximizing his utility by consuming 3 bags of popcorn and 3 bottles of pop. To find the ratio of the price of popcorn to the price of pop, we need to use the marginal utility of each good and apply the following formula:
Ratio of price of popcorn to price of pop = Marginal utility of pop / Marginal utility of popcorn
From the data, we can see that the marginal utility of pop at 3 bottles is 70, and the marginal utility of popcorn at 3 bags is 60.
Therefore, the ratio of the price of popcorn to the price of pop is:
Ratio of price of popcorn to price of pop = 70 / 60 = 7 / 6 = 1.1667
So the correct answer is 6/5. In conclusion, the ratio of the price of popcorn to the price of pop when Henry is maximizing his utility by consuming 3 bags of popcorn and 3 bottles of pop is 6/5.
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General purpose governments generally provide a wider range of services to their residents than do special purpose governments? T/F
The answer is True, General purpose governments generally provide a wider range of services to their residents than do special purpose governments is true.
An official government definition is what?The structure used to run a state or a community is called a government. Government is described by the Columbia Encyclopedia as "a system of social management where the power to enact laws and to enforce them is vested in a certain group in society."
What is the purpose of the government?A government is a structure whereby authorities use their authority to enact and uphold laws. The fundamental duties of a government include providing direction, upholding the law, delivering public services, ensuring national security, ensuring economic security, and assisting with the economy.
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knowledge check 01 a buyer uses a periodic inventory system, and on december 5, it purchases $4,000 of merchandise on credit terms of 2/10, n/30. complete the journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
The answer is Dr. - Merchandise Inventory $4,00 to Cr. - Accounts Payable $4,000, is the complete journal entry for the equation.
What do you mean by inventory?All of the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory. Example: If a newspaper seller utilizes a vehicle to deliver newspapers to consumers, just the newspapers will be counted as inventory. The car will be handled as an asset.
What is the primary function of inventory?The goal of the inventory is to act as a buffer between production and sales, regulating the flow of goods and guaranteeing that commodities are available when customers place orders. Companies must carefully control their inventory levels to accomplish this goal, possibly investing in the right method.
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Washington company purchases printing equipment for $4,000, paying 40% of the amount due in cash and agreeing to pay the balance at a later date. What is the effect of this transaction on individual asset accounts, individual liability accounts, the Capital Stock account, and the Retained Earnings account?
The effect of transaction on individual asset accounts, individual liability accounts, Capital Stock account, and Retained Earnings account would be different.
What is Capital Stock?Capital stock refers to the total amount of common and preferred shares that a company is authorized to issue and sell to its shareholders. This is the amount of money that investors have contributed to a company in exchange for ownership rights. The capital stock of a company represents the long-term funding sources of the organization and serves as a key indicator of its financial health. A company's board of directors determines the number of authorized shares of capital stock, which can be issued to shareholders. These shares represent a claim on the company's assets and earnings, and entitle shareholders to vote at the company's annual meetings, as well as receive dividends if the company generates profits. Capital stock can also be used to raise additional funds through secondary offerings.
Individual Asset Accounts: The purchase of printing equipment will increase the Fixed Asset account by $4,000.
Individual Liability Accounts: The company agreed to pay balance at a later date, which means they have incurred a liability. The Accounts Payable account will increase by $2,400 (60% of $4,000).
Retained Earnings Account: The purchase of equipment does not affect Retained Earnings account.
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